Vale closes the third quarter of 2018 focusing on previsibility and consistent growth

This Wednesday, October 24th, Vale announced its financial results for the third quarter of 2018. The results of the company’s focus on its differentiation strategy and discipline execution are evident. “We surpassed the historical milestone of over a hundred million tons of iron ore produced in a quarter. And we also broke records for pellet production”, commented the Chief Financial Officer, Luciano Siani Pires, in the video below.

In terms of our differentiation strategy, our premium products commanded a price realization of USD$ 8.6 per ton. “This is an advantage over the industry standard”, says Siani. With all of this, cashflow generation measured by EBITDA was US$ 4.4 billion. Underlying earnings were US$ 2.1 billion. The strong results enabled dividend distribution and buy back shares to a total amount of US$ 2.4 billion.

Net debt keeps on decreasing and has reached the lowest amount since 2009: US$ 10,7 billion. “This is very close to our target of US$ 10 billion”, points out the CFO. Vale also announced that it is expanding the Salobo mine, in Para, Brazil. “Not only harvesting, but now planting the seeds for the Vale of the future”, says Luciano.